Kraft readies hostile Cadbury bid

Kraft Foods is expected to initiate a hostile bid for Cadbury today (9 November).

The US food company has until 5pm to formalise its offer for the British confectioner or walk away under the “put up or shut up” rules set by the UK Takeover Panel.

According to weekend reports, Kraft will press ahead with its offer and make a hostile bid directly to Cadbury shareholders ahead of the deadline.

Cadbury rejected the US firm’s £10.2bn offer, about 745 pence per share, in September.

Reports suggest that Kraft is unlikely to go much higher, if at all than the original offer.

Cadbury chiefs are understood to have been encouraged by Kraft’s third quarter results, which saw the Dairylea and Capri-Sun maker report a 5.7% drop in sales for the three months to the end of September.

Kraft also owns the Kenco, Oreo, Jacobs and Toblerone brands while Cadbury makes Trident chewing gum, Green & Black’s and Caramel bars.   

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here